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Chandan Taparia of Motilal Oswal Securities said should the index hold above 10,950, a positive rangebound move could take it towards 11,000 level.

NEW DELHI: Benchmark indices ended with marginal losses
on Thursday ahead of
Friday’s no-confidence motion against the Modi government. The S&P BSE Sensex lost 22 points to settle at 36,351 while NSE’s Nifty50 index slipped below the 11,000 mark to end 23 points down at 10,957.

Thursday was the seventh consecutive session when the Nifty50 moved in the 11,080-10,920 range, representing a short-term sideways trend.

Chandan Taparia of Motilal Oswal Securities said should the index hold above 10,950, a positive rangebound move could take it towards 11,000 level. A hold below 10,929 could confirm a short-term ‘Double Top’ pattern for a potential decline towards 10,888 level, Taparia said.